Samsung in talks to acquire SmartThings smart home platform for $200 million

According to a report from TechCrunch, Samsung is in talks with SmartThings to acquire the smart home platform for around $200 million. The report originally claimed that the deal was completed, but TechCrunch has since updated the report to note a second source says the talks are still ongoing.

SmartThings is a home automation platform that enables Android and iOS users to effortlessly control their home from one simple app, including lights, locks, electronics, appliances and other connected home devices. The app can also detect motion, alert you of danger and monitor how many family members are home at any given time.

SmartThings carries a limited product lineup centered around a Hub for $99 that pairs your smartphone with connected devices within your home. It also carries a SmartSense Motion Sensor, Multi Sensor and GE Light & Appliance Plug-and-Control Power Outlet.

As smartphone, tablet and notebook markets become increasingly saturated, it has naturally become more challenging for consumer tech companies to experience growth and innovation in those product categories. For that reason, it is unsurprising that Silicon Valley is now shifting its focus to the home.

Apple introduced its HomeKit platform at its WWDC keynote last month, while Google recently acquired Nest for its smart thermostat and smoke and carbon monoxide alarm. If these acquisition talks pan out, Samsung would be ensuring that it remains competitive with two of its biggest competitors.

TechCrunch echoed that sentiment in breaking this scoop. “Samsung most likely bought the startup to get out ahead of Google’s Nest efforts,” the report noted. “With this buy, Samsung obtains a mature home automation platform that just needs some marketing help. And Samsung has a hefty marketing budget.”

Don’t go anywhere, as the so-called “Internet of Things” appears to be just getting started.